Chase is one of the most generous banks when it comes to deposit account bonuses. I post a lot of Chase bonuses here and you have probably seen an ongoing $500 bonus for years, and a recent bonus of $600. Besides being huge bonuses, another plus for these Chase offers is that you can take advantage of them every year. But now Chase is putting an end to that.

The new $600 bonus has the following upgraded language in the terms:

• You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

Previous terms restricted you to one new savings account opening related bonus each calendar year. That means that now you can only do these bonuses every other year, instead of annually.

How to Apply with Old Rules

There’s still some offers out there that still have the one year restriction. Here’s two bonuses that you can take advantage of, even if you received them last year:

• Chase $500 Checking & Savings Bonus, New Online Offer Till 10/13
• Chase $300 Business Checking Bonus, No Direct Deposit Required

Guru’s Wrap-Up

This was a steady bonus that many people were doing annually. New restrictions will limit you to just one bonus every two years. Take advantage now of the offers that still have the one year limitation if you already got the bonus last year. Otherwise, if the two year limit doesn’t affect you, go for the best bonuses.

HT: DoC